UPDATE 1-TPG plans to buy control in Russian grocer -paper

(Reuters) - The newspaper quoted sources close to Seventh Continent as
saying TPG, from the United States, would be prepared to invest
another $5-$7 billion in the chain over the next decade if the
deal goes ahead.




The deal, to buy 50 percent of the holding company that owns
75 percent of Seventh Continent, might close on Sept. 3. The
sellers would be the main owners of the chain, Vladimir Gruzdev
and Alexander Zanadvorov, Kommersant said.


Read more at Reuters.com Mergers News

Big private equity groups polish German image

(Reuters) - The new group includes Blackstone , Allianz Capital
Partners , Apax [APAX.UL], Advent, Bain Capital, BC
Partners, CVC [CVC.UL], KKR [KKR.UL], Permira [PERM.UL] and TPG
[TPG.UL].




The new group will commission studies from independent
research institutes on the economic importance of private equity
activities in Germany, with group members providing data about
their investments, BVK said.


Read more at Reuters.com Mergers News

DealTalk: Success of Blackstone IPO spurs rivals into action

(Reuters) - That caution quickly changed in recent days, when demand for Blackstone's initial public offering soared, with bankers and investors saying the IPO was six to seven times oversubscribed.




The heavy demand convinced firms such as Kohlberg Kravis Roberts & Co. and TPG Capital that the prospect of a higher tax burden was not enough to sap demand.


Read more at Reuters.com Mergers News

Australian Equities Snap Five-Day Advance; Coles Group Falls on Bid Report

(Bloomberg) -- Australian stocks dropped, snapping
five days of gains. Coles Group Ltd. led declines on a report the
TPG Inc.-led buyout group quit plans to bid for the retailer.

Australia & New Zealand Banking Group Ltd. led banks lower
after local bond yields rose, making their dividends less
attractive. Westfield Group led declines among companies that rely
on U.S. sales after the Standard & Poor's 500 Index in New York
posted its steepest decline in two weeks after higher bond yields
there renewed concern the world's largest economy will slow.


Read more at Bloomberg Stocks News

Shenzhen Development Bank Sells Bonds to Raise $2 Billion to Boost Capital

(Bloomberg) -- Shenzhen Development Bank Co.,
controlled by buyout firm TPG Inc., will raise as much as 16
billion yuan ($2.1 billion) selling debt to replenish capital
that has dropped below a government-mandated minimum.

The bank will sell 8 billion yuan of subordinated bonds with
maturity of between five and 15 years and another 8 billion yuan
of hybrid bonds with maturity of at least 15 years, the Shenzhen-
based bank said in a statement to the city's exchange on Saturday.
The debt will be sold within 18 months upon shareholder approval.


Read more at Bloomberg Emerging Markets News

Avaya faces up to $250 mln break-up fee

(Reuters) - NEW YORK, June 5 - Avaya Inc. agreed to pay up to $250 million to private equity firms TPG Capital and Silver Lake if Avaya, the telecommunications equipment maker, backs out of their acquisition deal, though analysts said Tuesday that a counterbid is not likely to emerge.



The $8.2 billion offer, announced on Monday, is expected to be completed in the fall of 2007, subject to approval by shareholders and regulators.


Read more at Reuters.com Bonds News

U.S. Stocks Advance on Takeovers; S&P 500 Nears Record on Alltel Buyout

(Bloomberg) -- More than $40 billion of takeovers
extended the stock market's seven-week rally and helped the
Standard & Poor's 500 Index flirt with a record on an
accelerating pace of acquisitions.

Alltel Corp. climbed to a seven-year high after Goldman
Sachs Group Inc. and TPG Inc. agreed to buy the fifth-biggest
U.S. wireless company for $24.7 billion. Amazon.com Inc., the
world's biggest online retailer, gained the most in the S&P 500
after Citigroup Investment Research raised its price forecast.


Read more at Bloomberg Stocks News

Most U.S. Stocks Climb on Takeovers; General Electric, Exxon Mobil Advance

(Bloomberg) -- Most U.S. stocks rose, extending a
seven-week advance, after $43.2 billion of announced deals added
to this year's record pace of mergers and acquisitions.

General Electric Co., Exxon Mobil Corp. and Merck & Co.
briefly led the S&P 500 above its March 24, 2000, peak. Alltel
Corp. rallied to its highest in almost eight years after Goldman
Sachs Group Inc. and TPG Inc. agreed to buy the fifth-biggest
U.S. wireless company for $24.7 billion.


Read more at Bloomberg Stocks News

American Superconductor, Antigenics, Alltel, Visteon: U.S. Equity Movers

(Bloomberg) -- The following is a list of companies
whose shares are having unusual price changes in U.S. exchanges
today. Stock symbols are in parentheses after company names.
Share prices are as of 1:05 p.m. New York time.

Alltel Corp. (AT US) rose $4.28, or 6.6 percent, to $69.49
and traded as high as $70.45. Goldman Sachs Group Inc. and TPG
Inc. agreed to buy Alltel for about $24.7 billion in the largest
leveraged buyout of a telecommunications company. Investors will
get $71.50 a share, the mobile-phone company said in a statement.
The offer is 9.6 percent more than Alltel's last closing price.
Including debt, the bid values Alltel at $27.5 billion.


Read more at Bloomberg Stocks News

U.S. Stocks Rise on Alltel Bid; General Electric Advances on Share Buyback

(Bloomberg) -- Most U.S. stocks rose after Goldman
Sachs Group Inc. and TPG Inc. agreed to buy Alltel Corp. for
about $24.7 billion, extending this year's record pace of mergers
and acquisitions.

Alltel, the fifth-biggest U.S. wireless company, climbed to
an almost eight-year high after the $71.50-a-share offer. General
Electric Co. advanced after the world's second-largest company by
market value said it will boost its share buyback plan by as much
as $2 billion with proceeds from the $11.6 billion sale of its
plastics unit.


Read more at Bloomberg Stocks News